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Showing posts with label upgrades. Show all posts
Showing posts with label upgrades. Show all posts

Thursday, December 13, 2018

=GE spins off digital assets to form internet of things company



General Electric announced plans Thursday spin off its GE Digital business and establish an independent Internet of Things company, built around several GE Digital technologies.

GE is simultaneously selling a majority stake in Service Max to private equity shop Silver Lake, the company announced. Service Max is a software business GE Digital acquired for $915 million in November 2016.

"As an independently operated company, our digital business will be best positioned to advance our strategy to focus on our core verticals to deliver greater value for our customers and generate new value for shareholders," GE chairman and CEO Larry Culp said in a statement.

The spin off comes as GE also announced that GE Digital CEO Bill Ruh left the company. GE said it will "conduct an internal and external search to identify the CEO for this new independent company."

GE says more detail about the new internet of things company will be announced in the first quarter of next year. GE says the company will have its a new brand, as well its own equity structure and independent board of directors.

GE shares jumped 10 percent in premarket trading to $7.41 from Wednesday's close of $6.71 a share. The jump came after longtime bearish analyst Stephen Tusa of J.P. Morgan upgraded GE shares to neutral from underweight, saying the embattled industrial giant now has a more "balanced risk reward at current levels."
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General Electric announces plans to establish a new, independent company focused on building a comprehensive Industrial Internet of Things software portfolio
The company will start with $1.2 billion in annual software revenue and an existing global industrial customer base. The company is intended to be a GE wholly-owned, independently run business with a new brand and identity, its own equity structure, and its own Board of Directors.
  • GE Digital CEO, Bill Ruh, has decided to depart GE to pursue other opportunities. The company intends to conduct an internal and external search to identify the CEO for this new independent company. Further details on GE's new IIoT software company will be announced in Q1 2019. This plan is subject to customary regulatory approvals, including information and consultation with employee representatives where required.
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J.P. Morgan upgraded shares of GE to neutral from underweight. Stephen Tusa, the firm's lead analyst on the stock, says the embattled industrial giant now has a more "balanced risk reward at current levels."

Tusa put out a bearish note on GE in May 2016 when the stock was above $30 that questioned the conglomerate's earnings and cash flow outlook.

Monday, November 5, 2018

-=Mylan N.V. (MYL) reported earnings on Mon 5 Nov 2018 (a/h)



Mylan N.V. beats by $0.06, misses on revs; committed to FY guidance
  • Reports Q3 (Sep) earnings of $1.25 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $1.19; revenues fell 4.2% year/year to $2.86 bln vs the $2.91 bln S&P Capital IQ Consensus. Rest of World segment net sales of $773.7 million, up 4%, up 11% on a constant currency basis. Europe segment net sales of $1.04 billion, flat, up 2% on a constant currency basis. North America segment net sales of $1.01 billion, down 14%, down 13% on a constant currency basis, primarily due to the combined impact of the implementation of new accounting standards, lower volumes including EpiPen Auto-Injector sales, the divestiture of certain contract manufacturing assets, the loss of exclusivity of a product and actions associated with the restructuring and remediation program at the Morgantown manufacturing facility. 
  • "We remain committed to our full-year 2018 guidance, and this confirmation is not dependent on any single product approval or launch. As we look ahead, we're very optimistic about our long-term growth prospects as we have secured almost all regulatory approvals necessary for our key 2019 product drivers around the world."

  • Upgraded to Buy (from Neutral) at BofA/Merrill Lynch, which suggests that the Q3 report may help to reveal that some concerns regarding co's broader portfolio appear overdone.

    Thursday, August 17, 2017

    =Molina Healthcare (MOH): Morgan Stanley issues a "double upgrade"


    • Morgan Stanley issued a “double upgrade” that hiked its rating on the stock from an Underweight to an Overweight. The firm also its price target from $65 to $68, which suggests an almost 20% upside from last night’s closing price of $56.78 a share.
    • The stock has fallen almost 18% since hitting a 52-week high of $72.79 in late July, giving up almost all of the ground it gained after the company fires its CEO and CFO in May. 
    • Morgan Stanley’s Zack Sopcak says Molina is undergoing an ”extreme makeover” and sees the company “as being on the cusp of succeeding as the next MCO turnaround after bottoming out in 2Q.”
    • (MCO = Managed Care Organization)


    Monday, March 27, 2017

    =Brookdale Senior Living (BKD) upgraded to buy at Jefferies

    Brookdale was upgraded to buy at Jefferies. $16.50 price target. The company is trading below net asset value and is a takeover candidate, Jefferies said.

    Tuesday, September 6, 2016

    Finisar (FNSR) has been upgraded

     


    • 3 months later (Dec '16)